In 1955 a hit song with the unlikely title “16 Tons” became the then second largest selling record of all time, having sold about 20 million copies, according to Doris Day.[i] To this day, there is hardly anyone who was born before 1945, and many even thereafter, who doesn’t recall Tennessee Ernie Ford’s soulful rendition. […]

Free Trade Principles: The meaning of free trade is that trading partners should be able to trade lawful goods and services in fully informed voluntary transactions without hindrance or subsidy. When Adam Smith in his seminal The Wealth of Nations circa 1776 and classical economist David Ricardo in his On the Principles of Political Economy […]

United States Silver Money This is silver money. It is in fact and in law a one dollar coin as provided for by the Coinage Act of 1792. It is in conformity with the dollar referred to in the 7th Amendment to the Constitution. This is not a dollar. It is a promise to pay […]

Promoting the “gold standard,” even with modifiers such as “classical,” “pure,” “100%” and others, or any monetary regime whereby paper money is “backed by,” “redeemable into,” “pegged to” or in any other way related to gold is a mistake for six reasons: The gold standard is not authorized by the Constitution. The only money authorized […]

Labor, Unions and Workers know they have been swindled, their pensions jeopardized, and a lifetime’s work placed at risk. The last time American workers were faced with fixing their financial system, American Labor called for a fair and honest monetary system, enjoyed broad public support, and worked to achieve it. The ensuing prosperity lasted more […]

The Fed believes that Zero interest-rate policy (ZIRP) will boost the economy by increasing credit creation, making it more profitable to build factories, start businesses, with increased demand and employment to follow. ZIRP, a euphemism for facilitating the creation of legal tender irredeemable paper-ticket-electronic make-believe money out of nothing, does bring forward sales of some […]

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Meaningful Insights

“You have to choose [as a voter] between trusting to the natural stability of gold and the natural stability of the honesty and intelligence of the members of the Government. And, with due respect for these gentlemen, I advise you, as long as the Capitalist system lasts, to vote for gold.”